Risk-off sentiment persists as further weakness is expected before unemployment data tonight

$E-mini S&P 500 Futures(SEP4)(ESmain.US)$ (4 Hour Chart) -[BEARISH ↘ *] S&P moved downwards. We maintain a bearish directional bias as long as prices to hold below 5510 resistance level. We expect prices to push below towards 5400 support level. Technical indicators are leaning towards a bearish scenario as well.

$USD(USDindex.FX)$ (4 Hour Chart) -[NEUTRAL] DXY currently holding between 104.035 support level and 104.550 resistance level. Technical indicators are mixed. We prefer to stay neutral. A 4 hour candlestick opening above 104.550 resistance level could open for a rise towards 104.210 resistance level.

$Gold Futures(AUG4)(GCmain.US)$ (4 Hour Chart) -[BEARISH ↘ **] As expected, price crossed 2385.20 support level. We maintain bearish, and expect price to push to 2327.50 support level. Technical indicators are advocating for a bearish scenario as well.

$Nikkei 225(.N225.JP)$ (4 Hour Chart) -[BEARISH ↘ *] As expected, Nikkei225 has pushed below 38000 resistance level. We turn bearish as long as price holds below 38300 resistance level. We expect prices to push towards 36750 support level. Technical indicators are leaning towards a bullish scenario.

$HSI Futures(JUL4)(HSImain.HK)$ (4 Hour Chart) -[BEARISH ↘ **] We maintain a bearish directional bias on HSI as long as price holds below 17450 resistance level. We expect prices to push towards 17000 support levels. Technical indicators advocate for a bearish scenario as well.

$FTSE Singapore Straits Time Index(.STI.SG)$ (4 Hour Chart) -[BULLISH↗ *] We maintain a bullish directional bias as long as price holds above 3400 support level. We expect prices to pause near 3400 support level before pushing for 3500 resistance level. Technical indicators are leaning towards a bullish scenario.

US markets dived last night, with $E-mini S&P 500 Futures(SEP4)(ESmain.US)$ and $E-mini NASDAQ 100 Futures(SEP4)(NQmain.US)$ trading down by 2.27% and 3.62% respectively. This is due to the tech sector continued weakness following the tech sell-off from last week. Despite $Meta Platforms(META.US)$ releasing its latest open-source AI model, traders are still cautious after the release of the underperforming global services PMI data. Traders should take note of Core PCE Price Index and $Lam Research(LRCX.US)$ earnings released this Friday.

Asian markets are down today, in the opposite direction of the US markets. $Nikkei 225(.N225.JP)$ dipped the most at 2.86%. This is due to risk-off sentiments among traders after strengthening of the JPY and concerns of an interest rate hike by BoJ. $HSI Futures(JUL4)(HSImain.HK)$ fell by 0.27%, with weakness from the finance, energy minerals and tech sector. There is weak sentiments among traders about China's ability to boost its economy after underperforming GDP data. $FTSE Singapore Straits Time Index(.STI.SG)$ dropped by 0.55%, with weakness coming from the finance sector.

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